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7月10日电,受达美航空股价大涨影响,美国航空盘前上涨3.6%,美国联合航空上涨4.1%,美国西南航空上涨2%。
news flash· 2025-07-10 10:36
Group 1 - Delta Air Lines' stock price surge positively impacted other airlines, with American Airlines rising by 3.6% in pre-market trading [1] - United Airlines experienced a 4.1% increase in pre-market trading [1] - Southwest Airlines saw a 2% rise in its stock price [1]
X @Bloomberg
Bloomberg· 2025-07-10 10:36
Delta Air Lines issues a new profit target for this year after pulling the goal three months ago, in a sign that demand is bouncing back https://t.co/O78cTsClZS ...
7月10日电,达美航空恢复本财年指引,预期调整后每股收益在5.25美元至6.25美元之间。
news flash· 2025-07-10 10:33
Group 1 - Delta Air Lines has restored its guidance for the current fiscal year, projecting adjusted earnings per share between $5.25 and $6.25 [1]
Delta cuts 2025 profit outlook, but CEO says demand has stabilized
CNBC· 2025-07-10 10:30
Core Viewpoint - Delta Air Lines has revised its profit forecast for 2025 downward due to lower-than-expected demand and an oversupply of flights, although its outlook for summer travel exceeded Wall Street expectations [1][3]. Financial Performance - Delta anticipates adjusted earnings per share of $1.25 to $1.75 for Q3, slightly above Wall Street's expectation of $1.31 [2]. - The company expects full-year adjusted earnings of $5.25 to $6.25 per share, a decrease from the previous forecast of over $7.35 per share made in January [3]. - Delta reported adjusted earnings per share of $2.10, surpassing the expected $2.05, and adjusted revenue of $15.51 billion, slightly above the forecast of $15.48 billion [8]. Revenue Insights - Revenue from premium products rose by 5%, while sales from the main cabin fell by 5% compared to the previous year [6]. - The partnership with American Express contributed significantly, with revenue increasing by 10% year-over-year to $2 billion in Q2 [5]. Market Trends - Bookings have stabilized but at lower levels than initially expected, with travelers shifting their booking patterns closer to travel dates [4]. - Corporate travel has stabilized but is not experiencing the anticipated growth of 5% to 10% compared to last year [7]. Capacity Management - Delta plans to implement "surgical" capacity cuts after the peak summer travel season, which ends around mid-August [4].
Delta(DAL) - 2025 Q2 - Quarterly Results
2025-07-10 10:30
[Delta Air Lines June Quarter 2025 Financial Results](index=1&type=section&id=Delta%20Air%20Lines%20Announces%20June%20Quarter%202025%20Financial%20Results) [June Quarter 2025 Financial Highlights](index=1&type=section&id=June%20Quarter%202025%20Financial%20Highlights) Delta delivered record revenue for the June quarter, with adjusted operating revenue up 1% year-over-year to $15.5 billion, driven by resilient high-margin streams, while adjusted pre-tax income and EPS declined 10% and 11% respectively, and adjusted operating cash flow was $1.8 billion June Quarter 2025 Key Financial Metrics (Adjusted, Non-GAAP) | Metric | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Operating Revenue | $15.5 billion | $15.4 billion | +1% | | Operating Income | $2.0 billion | $2.3 billion | -10% | | Operating Margin | 13.2% | 14.7% | -1.5 percentage points | | Pre-tax Income | $1.8 billion | $2.0 billion | -10% | | Diluted EPS | $2.10 | $2.36 | -11% | | Operating Cash Flow | $1.8 billion | $2.5 billion | -25% | | Free Cash Flow | $733 million | $1,274 million | -42% | June Quarter 2025 Key Financial Metrics (GAAP) | Metric | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Operating Revenue | $16.6 billion | $16.7 billion | 0% | | Operating Income | $2.1 billion | $2.3 billion | -7% | | Net Income | $2.1 billion | $1.3 billion | +63% | | Diluted EPS | $3.27 | $2.01 | +63% | - The strong performance was attributed to the outstanding contributions of Delta's employees, who continue to set a high bar for industry performance[3](index=3&type=chunk) [Full Year and Q3 2025 Guidance](index=1&type=section&id=Financial%20Guidance) Delta restored its full-year 2025 guidance, projecting EPS between $5.25 and $6.25 and free cash flow of $3 to $4 billion, while Q3 revenue is expected to be flat to up 4% year-over-year with a 9-11% operating margin, alongside a 25% dividend increase Financial Guidance | Metric | Full Year 2025 | Q3 2025 | | :--- | :--- | :--- | | Earnings Per Share | $5.25 - $6.25 | $1.25 - $1.75 | | Free Cash Flow | $3 billion - $4 billion | N/A | | Total Revenue YoY | N/A | 0% - 4% | | Operating Margin | N/A | 9% - 11% | | Gross Leverage | < 2.5x | N/A | - Reflecting confidence in the business, the company restored its full-year financial guidance, consistent with long-term free cash flow targets[4](index=4&type=chunk) - A **25% increase** to the dividend payment will begin in the September quarter[2](index=2&type=chunk) [Revenue Environment and Outlook](index=2&type=section&id=Revenue%20Environment%20and%20Outlook) Delta achieved record June quarter adjusted revenue of $15.5 billion, up 1% year-over-year, driven by resilient high-margin streams like Premium products and Loyalty, which contributed 59% of total revenue, with international revenue growing 2% - Diverse, high-margin revenue streams (Premium, Loyalty, Cargo, MRO) contributed **59% of total revenue**[9](index=9&type=chunk) - Premium product revenue grew **5% year-over-year**, outpacing main cabin performance[9](index=9&type=chunk) - Loyalty revenue increased by **8% year-over-year**, with American Express remuneration reaching **$2 billion**, a **10% increase**[9](index=9&type=chunk) - International revenue grew **2%**, with Pacific revenue up **11%** and Transatlantic revenue up **2%** over record 2024 levels[9](index=9&type=chunk) [Cost Performance and Outlook](index=2&type=section&id=Cost%20Performance%20and%20Outlook) Delta maintained cost discipline with a 2.7% year-over-year increase in non-fuel unit cost (CASM-Ex), while adjusted fuel expense decreased 11% to $2.5 billion due to lower fuel prices, with the company anticipating its best non-fuel unit cost performance in Q3 - June quarter non-fuel unit cost (CASM-Ex) increased **2.7% year-over-year** to **13.49 cents**[8](index=8&type=chunk)[11](index=11&type=chunk) - The company expects Q3 non-fuel unit costs to be flat to down compared to 2024, marking the best performance of the year[8](index=8&type=chunk) Q2 2025 Fuel Performance | Metric | Q2 2025 | YoY Change | | :--- | :--- | :--- | | Adjusted Fuel Expense | $2.5 billion | -11% | | Adjusted Fuel Price per Gallon | $2.26 | -14% | [Balance Sheet, Cash and Liquidity](index=3&type=section&id=Balance%20Sheet%2C%20Cash%20and%20Liquidity) Delta strengthened its balance sheet by generating $2 billion in free cash flow in the first half of 2025 and reducing adjusted net debt by $1.7 billion since year-end 2024, ending the quarter with $6.4 billion in liquidity - Generated **$733 million** in free cash flow in Q2 and **$2 billion** in the first half of 2025[10](index=10&type=chunk)[11](index=11&type=chunk) - Reduced adjusted net debt by **$1.7 billion** from the end of 2024, ending the quarter at **$16.3 billion**[11](index=11&type=chunk) - Ended the quarter with **$6.4 billion** in liquidity, including **$3.1 billion** in undrawn revolver capacity[11](index=11&type=chunk) [June Quarter 2025 Highlights](index=4&type=section&id=June%20Quarter%202025%20Highlights) Delta achieved top-tier operational reliability, expanded global partnerships, enhanced its network, invested in employees with a 4% pay raise, improved customer experience through new lounges and app updates, and advanced sustainability goals with significant fuel savings - **Operations:** Operated the most on-time airline in the quarter, took delivery of **10 new aircraft**, and announced strengthened partnerships with WestJet and plans with IndiGo, Air France-KLM, and Virgin Atlantic[15](index=15&type=chunk) - **People & Culture:** Provided a **4% base pay increase** for eligible employees and was named **No. 3** in Fortune's ReturnOnLeadership® ranking[15](index=15&type=chunk) - **Customer Experience:** Launched Fly Delta app 7.0, opened new Delta One and Sky Club lounges in SEA and ATL, and expanded partnerships with Uber and Missoni[15](index=15&type=chunk) - **Sustainability:** Achieved **1% fuel burn savings** from operational improvements, saving **45 million gallons** of jet fuel[15](index=15&type=chunk) [Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Consolidated%20Financial%20Statements%20(Unaudited)) [Consolidated Statements of Operations](index=8&type=section&id=Consolidated%20Statements%20of%20Operations) For Q2 2025, total operating revenue was flat year-over-year at $16.6 billion, while operating expense increased 1% to $14.5 billion, resulting in a 7% decrease in operating income to $2.1 billion, with net income up 63% to $2.1 billion due to a $735 million gain on investments Q2 2025 vs Q2 2024 Statement of Operations (GAAP) | (in millions) | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | $16,648 million | $16,658 million | 0% | | Total Operating Expense | $14,546 million | $14,391 million | +1% | | Operating Income | $2,102 million | $2,267 million | -7% | | Net Income | $2,130 million | $1,305 million | +63% | - A gain on investments of **$735 million** in Q2 2025, compared to a loss of **$196 million** in Q2 2024, was a primary driver of the significant increase in Net Income[29](index=29&type=chunk) [Revenue Breakdown](index=9&type=section&id=Revenue%20Breakdown) Total passenger revenue for Q2 2025 was flat year-over-year, driven by 5% growth in premium products and 12% increase in loyalty travel awards, offsetting a 5% decline in main cabin ticket revenue, with Pacific revenue growing 11% geographically Q2 2025 Passenger Revenue by Type (in millions) | Category | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Ticket - Main cabin | $6,347 million | $6,716 million | -5% | | Ticket - Premium products | $5,899 million | $5,633 million | +5% | | Loyalty travel awards | $1,092 million | $975 million | +12% | Q2 2025 Revenue by Geography (vs Q2 2024) | Region | Revenue Change | Unit Revenue Change | | :--- | :--- | :--- | | Domestic | -1% | -5% | | Atlantic | +2% | -2% | | Latin America | -1% | 0% | | Pacific | +11% | -1% | [Statistical Summary](index=10&type=section&id=Statistical%20Summary) In Q2 2025, Delta's capacity grew 4% year-over-year, outpacing 2% traffic growth, leading to a 1.8 percentage point decrease in passenger load factor to 86%, while TRASM declined 4% to 21.44 cents and CASM decreased 3% to 18.73 cents Q2 2025 Key Operating Statistics (vs Q2 2024) | Metric | Q2 2025 | Change | | :--- | :--- | :--- | | Available Seat Miles (millions) | 77,645 million | +4% | | Revenue Passenger Miles (millions) | 66,417 million | +2% | | Passenger Load Factor | 86% | -1.8 percentage points | | TRASM (cents) | 21.44 cents | -4% | | CASM (cents) | 18.73 cents | -3% | | CASM-Ex (cents) | 13.49 cents | +2.7% | | Avg. Fuel Price per Gallon | $2.21 | -16% | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For Q2 2025, net cash from operating activities was $1.9 billion, a decrease from $2.5 billion in the prior-year quarter, while net cash used in investing activities was $1.2 billion and financing activities used $1.1 billion, resulting in a net decrease in cash of $412 million Q2 2025 Cash Flow Summary (in millions) | Cash Flow Activity | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $1,856 million | $2,450 million | | Net cash used in investing activities | $(1,199) million | $(809) million | | Net cash used in financing activities | $(1,069) million | $(1,512) million | | **Net (Decrease)/Increase in Cash** | **$(412) million** | **$129 million** | [Consolidated Balance Sheets](index=12&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, Delta's total assets were $78.4 billion, up from $75.4 billion at year-end 2024, while total liabilities were $60.9 billion, with a significant increase in air traffic liability to $8.9 billion, and stockholders' equity increased to $17.4 billion Balance Sheet Summary (in millions) | Category | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total Current Assets | $10,982 million | $9,844 million | | Total Assets | $78,395 million | $75,372 million | | Total Current Liabilities | $28,554 million | $26,670 million | | Total Liabilities | $60,955 million | $60,079 million | | Total Stockholders' Equity | $17,440 million | $15,293 million | - Air traffic liability, a measure of tickets sold for future travel, increased to **$8.9 billion** from **$7.1 billion** at the end of 2024[44](index=44&type=chunk) [Note A: Non-GAAP Financial Measures](index=13&type=section&id=Note%20A%3A%20Non-GAAP%20Financial%20Measures) [Reconciliation of Non-GAAP Measures](index=13&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) Delta uses non-GAAP measures to provide a more meaningful comparison of core operational performance by excluding items like third-party refinery sales and MTM adjustments, with key adjusted Q2 2025 metrics including a 13.2% operating margin, $1.8 billion pre-tax income, $2.10 diluted EPS, and $733 million free cash flow - The primary adjustments from GAAP to non-GAAP figures include removing the impact of third-party refinery sales, mark-to-market (MTM) adjustments on investments and hedges, and losses on debt extinguishment[46](index=46&type=chunk)[47](index=47&type=chunk)[48](index=48&type=chunk) Q2 2025 GAAP to Non-GAAP Reconciliation Highlights | Metric | GAAP | Adjusted (Non-GAAP) | | :--- | :--- | :--- | | Operating Margin | 12.6% | 13.2% | | Pre-Tax Income | $2,574 million | $1,805 million | | Diluted EPS | $3.27 | $2.10 | | CASM (cents) | 18.73 cents | N/A | | CASM-Ex (cents) | N/A | 13.49 cents | - Adjusted net debt was calculated at **$16.3 billion** as of June 30, 2025, a reduction of **$1.7 billion** from the end of 2024[63](index=63&type=chunk) - Free cash flow for Q2 2025 was **$733 million**, derived from **$1.9 billion** in operating cash flow adjusted for investing activities, pension contributions, and other items[68](index=68&type=chunk)
Delta Air Lines Announces June Quarter 2025 Financial Results
Prnewswire· 2025-07-10 10:30
Financial Performance - Delta Air Lines reported record revenue of $15.5 billion for the June quarter, approximately 1 percent higher than the previous year, with a 13 percent operating margin and $1.8 billion in pre-tax profit [2][4][8] - The company expects earnings per share for the September quarter to be between $1.25 and $1.75, with an operating margin of 9 to 11 percent [3][4] - Full year guidance has been restored, with expected earnings per share of $5.25 to $6.25 and free cash flow of $3 to $4 billion [3][10] Revenue Streams - Diverse, high-margin revenue streams contributed 59 percent of total revenue, with premium revenue growing 5 percent year-over-year and loyalty revenue increasing by 8 percent [8][10] - International revenue grew by 2 percent during the quarter, supported by strong demand for Transatlantic travel and record Pacific revenue, which was up 11 percent compared to the second quarter of 2024 [8][10] Cost Management - Non-fuel unit cost growth for the June quarter was 2.7 percent, consistent with expectations, and the company anticipates the September quarter will show the best non-fuel unit cost performance of the year [5][9] - Adjusted fuel expense decreased by 11 percent year-over-year, with an average fuel price of $2.26 per gallon, down 14 percent from the previous year [14][15] Cash Flow and Debt - Delta generated free cash flow of $2 billion in the first half of the year, supporting the full year expectation of $3 to $4 billion [10][29] - Total debt and finance lease obligations were reported at $15.1 billion at the end of the quarter, a reduction of $2.9 billion from the previous year [7][15] Dividend and Shareholder Returns - The company announced a 25 percent increase in its quarterly dividend, effective from the September quarter [3][10] - Delta's commitment to capital allocation includes reinvesting in the business, paying down $3 billion of debt this year, and returning cash to shareholders [10][15]
The Day Ahead: Markets Today Eye Jobless Claims, Delta Earnings, Fed Remarks, AI Momentum
FX Empire· 2025-07-10 08:30
Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading [1]. Group 1 - The website provides general news, publications, and personal analysis intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1]. - Users are advised to consider their financial situation and needs before making decisions based on the information provided [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - It encourages users to perform their own research and understand the risks involved before investing in any financial instruments [1].
Can Delta Air Lines Keep Up its Earnings Momentum?
Schaeffers Investment Research· 2025-07-09 17:08
Core Viewpoint - Delta Air Lines Inc is expected to report a revenue of $16.21 billion and earnings of $2.07 per share for the second quarter, reflecting a 5.3% year-over-year increase driven by international and premium travel sectors [1] Financial Performance - The company has shown a turnaround in earnings this year, with the stock rising after the last two earnings reports, including a notable 23.4% increase following the April report [2] - The options market is anticipating a larger earnings swing of 9.5%, compared to the average 6.4% move over the past two years [2] Stock Movement - A successful earnings report could push Delta Air Lines' stock above the recent consolidation level around $52 and the 120-day moving average, although the stock is down 16.5% year to date [3] Options Trading Sentiment - The 10-day call/put volume ratio stands at 2.73, indicating that options traders are more optimistic than usual, with this ratio being higher than 73% of readings from the past year [4] - Delta Air Lines has historically outperformed options traders' volatility expectations, as indicated by a Schaeffer's Volatility Scorecard (SVS) of 99 out of 100 [4]
美国航空业Q2财报季来袭:达美航空(DAL.US)打头阵 需求及运力调整成关注焦点
Zhi Tong Cai Jing· 2025-07-08 12:55
就主要航空公司而言,摩根士丹利认为,西南航空(LUV.US)在本财报季的风险最大,因其今年迄今的 强劲表现和待实施的内部举措。达美航空预计将交出稳健业绩,其国际航线和高端舱位表现突出。捷蓝 航空(JBLU.US)被认为面临压力,但如果管理层语气改善,可能会有意外惊喜.美联航(UAL.US)是投资 者预期最高的,但这可能导致其业绩指引令人失望。 瑞银则预计,航空业第二季度整体财报将基本符合预期,达美航空被视为主要航空公司中处境最佳。虽 然第二季度需求已经企稳,但国内休闲旅行和经济舱的持续疲软与温和预期相符。达美航空被认为比同 行处于更具建设性的环境中,部分原因是竞争格局以及纽瓦克航空交通中断的影响。 展望未来,瑞银预计,第三季度每可用座位英里收入(RASM)的指引将偏软,行业计划显示运力同比增 长将从第二季度的3%放缓至1.8%;需求仍然疲软,预计航空公司将对RASM持谨慎态度。该行分析师 Thomas Wadewitz警告称,如果需求未能复苏,可能需要进一步削减运力以支持RASM改善。 达美航空(DAL.US)将于7月10日率先拉开航空业第二季度财报季序幕。分析师表示,随着航空公司为下 半年定下基调,投资者需 ...